§ 31-3.1-14. Transfer by operation of law.
(a) If the interest of any owner in a vehicle passes to another other than by voluntary
transfer, the transferee shall, except as provided in subsection (b), promptly mail
or deliver to the division of motor vehicles the last certificate of title, if available,
proof of the transfer, and his or her application for a new certificate in the form
the division of motor vehicles prescribes.
(b) If the interest of the owner is terminated or the vehicle is sold under a security
agreement by a lienholder named in the certificate of title, the transferee shall
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§ 31-3.1-14. Transfer by operation of law.
(a) If the interest of any owner in a vehicle passes to another other than by voluntary
transfer, the transferee shall, except as provided in subsection (b), promptly mail
or deliver to the division of motor vehicles the last certificate of title, if available,
proof of the transfer, and his or her application for a new certificate in the form
the division of motor vehicles prescribes.
(b) If the interest of the owner is terminated or the vehicle is sold under a security
agreement by a lienholder named in the certificate of title, the transferee shall
promptly mail or deliver to the division of motor vehicles the last certificate of
title, his or her application for a new certificate in the form the division of motor
vehicles prescribes, and an affidavit made by or on behalf of the lienholder that
the vehicle was repossessed and that the interest of the owner was lawfully terminated
or sold pursuant to the terms of the security agreement. If the lienholder succeeds
to the interest of the owner and holds the vehicle for resale, the lienholder need
not secure a new certificate of title but, upon transfer to another person shall promptly
mail or deliver to the transferee or to the division of motor vehicles, the certificate,
affidavit, and other documents and articles required to be sent to the division of
motor vehicles by the transferee.
(c) A person holding a certificate of title whose interest in the vehicle has been extinguished
or transferred other than by voluntary transfer shall mail or deliver the certificate
to the division of motor vehicles upon request of the division of motor vehicles.
The delivery of the certificate pursuant to the request of the division of motor vehicles
does not affect the rights of the person surrendering the certificate, and the action
of the division of motor vehicles in issuing a new certificate of title as provided
in this section is not conclusive upon the rights of an owner or lienholder named
in the old certificate.